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First Federal of Northern Michigan

Popular Accounts at this Bank

1.50%Reward CheckingEagle Rewards Checking
1.35%5-year CD60 Months HSA CD
0.25%1-year CD12 Months HSA CD

Overview / Commentary
100 South Second Avenue
Alpena, MI 49707

First Federal of Northern Michigan is headquartered in Alpena and is the 38th largest bank in the state of Michigan. It is also the 2,095th largest bank in the nation. It was established in 1957 and as of December of 2017, it had grown to 90 employees at 8 locations. First Federal of Northern Michigan has a B+ health rating.


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Health Grade Components

FDIC Certificate #30985
Year Established1957
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.14%
Return on Equity - YTD1.54%
Annual Interest Income$11.7MM
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$320.2MM$344.2MM
LoansQ4 2017vs Q4 2016$192.0MM$181.5MM
DepositsQ4 2017vs Q4 2016$272.2MM$296.1MM
Equity CapitalQ4 2017vs Q4 2016$30.3MM$29.7MM
Loan Loss AllowanceQ4 2017vs Q4 2016$1.8MM$1.7MM
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$1.9MM$1.0MM
Real Estate OwnedQ4 2017vs Q4 2016$93.00K$679.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Federal of Northern Michigan Savings Account Rates

0.50%$100-Health Savings Account
0.05%--Statement Savings
0.05%--Advantage Savings
0.05%--Works Plus Savings
0.05%--Minor Savings
0.05%--MIUTMA Savings
0.05%--Christmas Club Account
0.05%--ETA Statement Savings
0.05%--Business Savings
0.05%--IRA Statement Savings

First Federal of Northern Michigan Money Market Rates

0.30%*$250k*-Money Market
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $50k | 0.15% $50k - $100k | 0.20% $100k - $150k | 0.25% $150k - $250k
0.20%*$75k*-Business Money Market
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $50k | 0.15% $50k - $75k

First Federal of Northern Michigan Checking Account Rates

1.50%*-$25kRewards Checking
OTHER TIERS: 0.15% $25k+
0.15%*$25k*-Premium Business NOW
OTHER TIERS: 0.05% $500 - $5k | 0.10% $5k - $25k
0.15%*$25k*-Premier Checking
OTHER TIERS: 0.05% $500 - $5k | 0.10% $5k - $25k
0.15%*$25k*-First Freedom Club
OTHER TIERS: 0.05% $500 - $5k | 0.10% $5k - $25k
0.10%*$5k*-Business Interest Checking
OTHER TIERS: 0.05% $500 - $5k

First Federal of Northern Michigan CD Rates

1.35%$500-60 Months CD
1.35%$250-60 Months HSA CD
1.35%$100-60 Months Youth CD
1.10%$500-48 Months CD
1.10%$250-48 Months HSA CD
1.10%$100-48 Months Youth CD
0.85%$500-36 Months CD
0.85%$250-36 Months HSA CD
0.85%$100-36 Months Youth CD
0.50%$500-24 Months CD
0.50%$250-24 Months HSA CD
0.50%$100-24 Months Youth CD
0.35%$500-18 Months CD
0.35%$250-18 Months HSA CD
0.35%$100-18 Months Youth CD
0.25%$500-12 Months CD
0.25%$250-12 Months HSA CD
0.25%$100-12 Months Youth CD
0.20%$500-15 Month Easy Access CD
0.20%$100-15 Month Easy Access Youth CD
0.15%$500-6 Months CD
0.15%$250-6 Months HSA CD
0.15%$100-6 Months Youth CD
0.10%$500-3 Months CD
0.10%$250-3 Months HSA CD
0.10%$100-3 Months Youth CD
0.10%$500-7 Month Easy Access CD
0.10%$100-7 Month Easy Access Youth CD

First Federal of Northern Michigan IRA Rates

1.35%$250-60 Months IRA
1.10%$250-48 Months IRA
0.85%$250-36 Months IRA
0.50%$250-24 Months IRA
0.35%$250-18 Months IRA
0.25%$250-12 Months IRA
0.15%$250-6 Months IRA
0.10%$250-3 Months IRA

First Federal of Northern Michigan Locations
First Federal Of Northern Michigan100 South Second AvenueAlpena, MI 49707
Gaylord Branch1000 S Wisconsin AveGaylord, MI 49735
Cheboygan Branch101 South MainCheboygan, MI 49721
Oscoda Branch201 North State StreetOscoda, MI 48750
Lewiston Branch2885 S. County Road 489Lewiston, MI 49756
Mio Branch308 N Morenci StreetMio, MI 48647
Alanson Branch6230 River StreetAlanson, MI 49706
Bank Of Alpena Main Office Branch468 Ripley BoulevardAlpena, MI 49707